BAYERN MUNICH are being backed as joint favourites to write history and successfully defend their Champions League title.

Pep Guardiola's side are favourites with the bookies to win the Champions League

The Bundesliga giants overcame Borussia Dortmund in the Final at Wembley last season as they scooped a stunning domestic and European treble - only the seventh team to achieve this feat.

And Pep Guardiola's side have been priced at 7/2 by leading bookmaker Paddy Power along with his former club Barcelona to lift the trophy with the big ears.

Manchester United, Manchester City and Chelsea appeared to get a more favourable draw compared to Arsenal who have to overcome Napoli and Borussia Dortmund and Celtic, who have been plunged into the dreaded Group H, which is littered with former European champions- Barca, AC Milan and Ajax.

Lionel Messi's Barcelona could stand in the way of Bayern retaining the Champions League

Jose Mourinho's Chelsea are 11/1 to lift the Champions League title

Bayern Munich installed as favourites for the Champions League

Real Madrid are third favourites at 5/1 although they are in a tricky group with Serie A champions Juventus and Turkish outfit Galatasaray.

Chelsea have been given odds of 11/1 to go all the way with Arsenal outsiders at 33/1 to lift their maiden Champions League title.

Celtic are long shots at 300/1 to get their hands on the prestigious European prize.